Cross-border ETFs to start January 19
Print Edition
SAME-DAY trading of cross-border exchange-traded funds will be allowed in a bid to boost their liquidity, the Shanghai Stock Exchange said yesterday.
From January 19, the same-day trading system will apply to Shanghai-listed cross-border ETFs, the exchange said in a statement released on its website yesterday.
Same-day trading, or so-called “T+0” trading, enables investors to buy and sell securities within the same day. The “T+1” trading system that is widely applied to China’s securities markets does not allow investors to sell a stock bought on the same day but on the next trading day.
“T+0 trading will improve product liquidity and pricing efficiency and help cross-border ETFs to expand the scale of assets and attract long-term funds,” Deng Ge, spokesman of the China Securities Regulatory Commission, told a media briefing after the market closed yesterday.
Four cross-border EFTs that track performances of overseas stock indices that are eligible for T+0 trading are HuaAn International Leading DAX Index ETF, Bosera Standard And Poor’s 500 ETF, Guotai Nasdaq 100 ETF and E Fund Hang Seng China Enterprises Index ETF, the exchange said.
The Shenzhen stock exchange also announced the same rule yesterday.
China’s securities regulator previously allowed T+0 trading of bond-based ETFs, money market ETFs and gold-backed ETFs.
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